Tuesday, May 28, 2024

No increase in electricity rates expected until June

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The Public Utilities Commission (PUC) has decided to keep the current Mean Electricity Rate of $0.39.9 per kilowatt-hour instead of the proposed increase of $0.41.5 per kilowatt-hour. The current rate will remain until June 30, 2022. 

According to the PUC, the increase was requested by Belize Electricity Limited (BEL) on December 10, 2021. BEL claimed their expenses for power acquisition at the end of 2021 had increased and projected further increases in the first months of 2022. The company purchases energy from different suppliers across the country with a significant amount from Mexico. However, the PUC said that BEL had chosen to purchase power at a higher rate from other sources. Many customers across the country, including Ambergris Caye, were concerned about the increase. However, with the recent announcement from the PUC, customers no longer need to worry until the matter is reviewed in June later this year.

The decision against the increase in power was made public on February 4th, as PUC said that after reviewing the feedback received through consultations decided to keep the current rate. The Commission stated that the increase would negatively affect the economic recovery of the country.

BEL was reportedly intending to recover almost $8 million with the increase in electricity rates. It is said that the company will now aim for such a recovery in 2023.

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